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Shares of railway-related stocks continued their upmove on Friday, with index heavyweights IRCON International , Rail Vikas Nigam Ltd (RVNL) , IRFC, IRCTC , and BEML rallying up to 10% in early trade. Among others, Jupiter Wagons , Titagarh Railsystems , Texmaco Rail , Railtel Corp of India , RITES , and Container Corporation of India also saw strong buying momentum. On the other hand, the benchmark indices BSE Sensex and NSE Nifty were trading in negative terrain, falling by up to 0.4% in the first two hours of trade so far.
State-owned RVNL was the top gainer among its peers, with its share price rising as much as 10.4% to hit a high of ₹415 on the BSE. At the current level, the largecap stock is down 38% from its 52-week high of ₹647 touched on July 15, 2024, while it has recovered 33% from its 52-week low of ₹275.90 touched on this day last year.
RVNL share price rose today after it secured an order worth ₹115.79 crore from Central Railway. The contract covers modification work for up-gradation of existing 1x25 KV electric traction system to 2x25 KV at feeding system in Itarsi - Amla Section in Nagpur Division of Central Railway to meet 3000 MT loading target.
The board of the company is also scheduled to meet on May 21 to consider and approve recommendation of final dividend for the financial year ended March 31, 2025.
Similarly, IRCON shares climbed over 8% to ₹191.90 on the BSE after the railway-related engineering and construction company bagged an order worth ₹51.61 crore from North Western Railway. The projected has been awarded for the provision of remote diagnostic & predictive maintenance system in RE-MD section of Jaipur Division, MD-PNU section of Ajmer division, RE-BTI section of Bikaner division, MTD-LUNI section of Jodhpur division of North Western Railway.
On the other hand, IRFC shares extended gaining streak for the third straight session, rising over 9% during the same period. Today, the counter added nearly 6% to touch a high of ₹137.95 in the first two hours of trade so far.
Meanwhile, other railway heavyweights IRCTC, BEML, Titagarh Railsystems, Texmaco Rail, Railtel Corp of India, RITES, and Container Corporation, and Jupiter Wagons gained in the range of 3-8%.
Notably, railway-related stocks have seen strong recovery in the recent past, in sync with rally in the midcap and smallcap indices, as ease in border tensions between India and Pakistan and optimism about U.S.-India trade talks boosted sentiments.
(DISCLAIMER: The views and opinions expressed by investment experts on fortuneindia.com are either their own or of their organisations, but not necessarily that of fortuneindia.com and its editorial team. Readers are advised to consult certified experts before taking investment decisions.)
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